Peanut Allergy Treatment Market To Hit Value .01 Billion By 2030 |Grand View Research, Inc.

Posted by Mrudula Anil Karmarkar on January 9th, 2024

San Francisco, 09 January 2024: The ReportPeanut Allergy Treatment Market Size, Share & Trends Analysis Report By Drug Class (Antihistamines, Epinephrine), By Route Of Administration, By Distribution Channel, By Region, And Segment Forecasts, 2024 - 2030

The global peanut allergy treatment market size is expected to reach USD 1.01 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 11.82% from 2024 to 2030. Some of the key factors propelling the market growth include a robust product pipeline, high disease prevalence, advancement in the drug delivery system, and strategic initiatives by key players.

Key market players are bolstering their pipeline for peanut allergy treatment through various strategies. For instance, Aravax initiated its series B funding round in December 2022, securing a USD 20 million investment from renowned Australian healthcare entrepreneurs Tenmile and Brandon Capital. This financing will enable Aravax to commence phase II clinical trials of PVX108, targeting individuals who experience allergic reactions to peanuts. Such fundings are expected to drive advancements in research and development programs.

The market is stimulated by the increasing number of product approvals for peanut allergy treatment. In January 2020, the U.S. Food and Drug Administration (FDA) granted authorization to PALFORZIA [Peanut (Arachis hypogaea) Allergen Powder-dnfp], developed by Aimmune Therapeutics, Inc. PALFORZIA is the first immunotherapy medication approved for individuals with peanut allergies. It is an oral immune therapy designed to reduce allergy responses, including anaphylaxis triggered by accidental peanut ingestion. It is intended for individuals who have a confirmed allergy, with initial dose escalation recommended for children aged four to 17.

As of the first quarter of 2023, several promising pipeline products are undergoing clinical development. These include Viaskin Peanut by DBV Technologies, CA002 by Dupixient, and Camallegr, a collaborative effort between Sanofi and Regeneron. Additionally, other assets such as ADP101, VE416, INP20, and CNP-201 are also in development. The introduction of these medications is anticipated to contribute to the growth and expansion of the market during the projected forecast period.4

Key factors propelling market include, rising prevalence of peanut allergies worldwide and increasing R&D activities for novel drugs. Moreover, growing adoption of new biological agents to treat allergies and an increase in clinic visits by patients seeking therapy for this allergy are likely to drive market over forecast period.

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Growing prevalence of allergies is driving development of innovative treatments that enhance management and potentially reduce severity of allergic reactions. With peanut allergy affecting about 1% to 2% of the U.S. population, need for effective treatments is more crucial than ever. Over past 10 years, incidence has gradually increased. For instance, according to the Food Allergy Research & Education in 2022, around 32 million individuals in America have an illness, and 6.1 million of those have a peanut allergy. In addition, it ranks among most prevalent food allergies, impacting a staggering 17 million individuals across Europe.

Peanut Allergy Treatment Market Report Highlights

• The epinephrine segment held the major market share in 2023. The standard of care for anaphylaxis treatment has been epinephrine auto-injectors, which are also essential in the management of allergies in emergency situations
• By route of administration, the injectable segment dominated the market in 2023 owing to the development of injectable treatments that are practical, less painful, and easier to use for patients is being pursued in response to the growing emphasis on patient-centered care. This includes looking at alternative delivery systems for injectable therapies, such as wearable technology or auto-injectors
• By distribution channel, the hospital pharmacy segment held the largest market share in 2023. Hospital pharmacies put more of an emphasis on offering patient support and information for people with peanut allergies
• North America has established a strong regional position in the market. This is due to the presence of numerous pharmaceutical companies, academic institutions, and research organizations currently looking into new therapeutic strategies to address the underlying causes of peanut allergies, including gene therapy, biologics, and other immunomodulatory interventions

Increasing funding for peanut allergy treatment market is driving advancements in research, development, and accessibility of innovative therapies, addressing growing demand for more effective treatments & management strategies. Moreover, in September 2022, COUR Pharmaceuticals, a clinical-stage biotechnology company, successfully completed a USD 30 million financing round, with Alpha Wave Ventures as lead investor. This funding will support expansion of COUR's innovative immune-modifying nanoparticles (COUR NanoParticles or CNPs) technology platform. This heightened financial support is propelling growth of allergy treatment market, fostering development of safer and more accessible solutions for those affected by this condition.

Furthermore, peanut allergy treatment market is experiencing a positive impact owing to increasing approvals of products for treatment. For instance, in January 2020, the U.S. FDA granted authorization for PALFORZIA as reported by Aimmune Therapeutics, Inc. PALFORZIA represents first immunotherapy medication approved for individuals with a peanut allergy. It is an oral immune therapy designed to reduce allergic responses, including anaphylaxis resulting from unintended ingestion. PALFORZIA is intended for use by individuals with a confirmed indication, and initial dose escalation is suitable for children aged four to 17.

Peanut Allergy Treatment Market Report Scope

Companies engage in strategic initiatives such as collaborations, acquisitions, mergers, clinical studies, and strategic agreements for product portfolio expansion to maximize their market share. To sustain their presence in market, industry players are also concentrating on geographic expansion and product launches.

• In June 2023, Alladapt Immunotherapeutics, Inc. has unveiled topline results of Phase 1/2 Harmony study assessing effectiveness & safety of ADP101 for treating food allergies. Outcomes indicate dose-dependent, clinically significant responses, and a favorable safety profile in pediatric patients with single or multiple food allergies. These promising findings suggest ADP101's potential as a safe and effective treatment for children with common food allergies.
• In May 2023, DBV Technologies has made an announcement that the results of its Phase 3 EPITOPE trial involving EPIT using Viaskin Peanut in children aged 1 to 3 years have been published in the New England Journal of Medicine. This publication underscores the potential of a new food allergy treatment option for this specific age group, offering hope for the management of food allergies in young children.

List of Key Players of Peanut Allergy Treatment Market

• Aimmune Therapeutics Inc.
• Aravax Pty Ltd
• Sanofi
• DBV Technologies
• Alladapt Immunotherapeutics, Inc.
• Vedanta Biosciences, Inc.
• Regeneron Pharmaceuticals Inc.
• Teva Pharmaceuticals Industries Ltd.
• Prota Therapeutics